Despite a week of strengthening bullion prices, investors seemed to want to take home the cash, depressing the S&P-TSX Venture Composite Index by 77.83 points over the Nov. 20-26 trading session. Average daily trading volume for the week was 91.6 million shares.
An overwhelming bearish trend dominated weekly trading with only eight junior explorers posting new annual share price highs, while 160 dropped to 52-week lows.
With weakening zinc and lead prices, New Brunswick base metal producer Blue Note Mining saw its shares pull back 4 over the period, closing down at 40.5 on 32.3 million shares traded.
Canadian Shield Resources posted a 3 gain on trading volume of 21.2 million shares, closing the session at 27 per share. Drilling at its La Estrella project, in central Peru, recently returned intercepts of up to 107 metres grading 77.7 grams silver per tonne and 0.4 gram gold.
Shares of MacDonald Mines Exploration continued to retract, down 6 to 70 apiece on trading volume of 20.4 million. In late October, the company closed a $10-million financing for its VMS projects in the McFaulds Lake area of the James Bay lowlands.
Peak Gold saw 15 million shares change hands, slipping a penny to 59 per share. Resources at its Amapari mine, in Brazil, were recently boosted to 14.2 million measured and indicated tonnes at 2.3 grams gold.
Sage Gold gained a nickel to close the session at 47.5 on 14.7 million shares traded. The company closed a $5.5-million financing, earmarked for its projects in the Beardmore- Geraldton greenstone belt region of northern Ontario, earlier this month.
With a final prospectus filed for a $130-million financing, Yukon Zinc shed 2.5 per share to close the week at 13 on 9.3 million shares of volume. The funds will go toward capital costs for construction at the company’s Wolverine mine, in the Yukon.
Noront Resources traded 9.2 million shares over the week, adding 65 to close at $5.05 per share. Drilling continues at its Double Eagle project, in the James Bay lowlands.
Shares of Western Keltic Mines rallied 34%, closing up 10.5 to 41.5 apiece on 8.4 million shares volume, following a friendly takeover bid from Sherwood Copper. Sherwood is offering 0.08 of a share for each Western Keltic share. The motive for the offer is Western Keltic’s Kutcho copper project, in northern B.C.
Canplats Resources posted a 145% gain on the week after drilling on the Represa zone, at its Camino Rojo project in Mexico, returned intercepts of up to 107 metres grading 1.1 grams gold, plus silver, lead and zinc values.
Copper Canyon Resources plummeted 67% on the week, down 73.5 to 36.5 per share. The nosedive came on news that NovaGold Resources and Teck Cominco suspended construction at their Galore Creek copper-gold project, in northwestern B.C., due to estimated capital cost increases. Copper Canyon’s namesake deposit is viewed as a potential satellite operation to the nearby Galore Creek.
TSX-V greatest percentage change
VOLUME(000s) | HIGH | LOW | CLOSE | CHANGE | |||
Canplats Res | CPQ | 6680 | 1.43 | 0.48 | 1.35 | + | 145.4 |
Contintl Nickl | CNI | 532 | 3.79 | 1.60 | 2.71 | + | 123.9 |
Inter-Rock Mnl | IRO | 20 | 0.11 | 0.11 | 0.11 | + | 57.1 |
Macarthur Mnl | MMS | 81 | 1.98 | 1.18 | 1.65 | + | 50.0 |
Tirex Res | TXX | 2139 | 2.85 | 2.00 | 2.85 | + | 47.6 |
Ivana Vent | ANA | 490 | 0.58 | 0.40 | 0.57 | + | 44.3 |
Prominex Res | PXR | 869 | 0.195 | 0.12 | 0.18 | + | 38.4 |
Western Keltic | WKM | 8430 | 0.43 | 0.285 | 0.415 | + | 33.8 |
Meritus Mnls | MER | 21 | 0.36 | 0.28 | 0.28 | + | 33.3 |
Great Sthn Ent | GSR | 191 | 0.06 | 0.04 | 0.06 | + | 33.3 |
Copper Canyon | CPY | 2497 | 1.26 | 0.325 | 0.365 | – | 66.8 |
Wind River Res | WRR | 218 | 0.07 | 0.035 | 0.035 | – | 61.1 |
Rome Res | RMR | 31 | 0.99 | 0.405 | 0.405 | – | 49.3 |
CMQ Res | CMQ | 4357 | 0.085 | 0.035 | 0.04 | – | 42.8 |
Romios Gold Rs | RG | 2769 | 0.64 | 0.28 | 0.40 | – | 37.5 |
African Metals | AFR | 112 | 0.31 | 0.23 | 0.24 | – | 33.3 |
Strait Gold | SRD | 612 | 0.21 | 0.13 | 0.14 | – | 33.3 |
Celtic Mnrls | CME | 1651 | 1.18 | 0.75 | 0.77 | – | 33.0 |
Goldsource Min | GXS | 60 | 0.205 | 0.145 | 0.145 | – | 32.5 |
Beta Minerals | BMI | 46 | 0.11 | 0.075 | 0.075 | – | 31.8 |
TSX-V greatest value change
VOLUME | CLOSE | CHANGE | |||
Contintl Nickl | CNI | 531971 | 2.71 | + | 1.50 |
Palmarejo S&G | PJO | 750896 | 11.15 | + | 1.05 |
Tirex Res | TXX | 2139190 | 2.85 | + | 0.92 |
Canplats Res | CPQ | 6680431 | 1.35 | + | 0.80 |
Noront Res | NOT | 9161869 | 5.05 | + | 0.65 |
Macarthur Mnl | MMS | 81200 | 1.65 | + | 0.55 |
Xemplar Energy | XE | 2635685 | 6.00 | + | 0.43 |
Quaterra Res | QTA | 429087 | 3.35 | + | 0.31 |
Contintl Mnls | KMK | 1385357 | 1.79 | + | 0.31 |
Rare Elemnt Rs | RES | 230866 | 1.25 | + | 0.24 |
Seabridge Gold | SEA | 130577 | 26.80 | – | 1.67 |
Copper Canyon | CPY | 2496627 | 0.365 | – | 0.735 |
Pac Booker Min | BKM | 10475 | 11.05 | – | 0.45 |
Aldridge Minls | AGM | 35662 | 2.35 | – | 0.45 |
Northland Res | NAU | 94713 | 2.85 | – | 0.40 |
Azimut Expl | AZM | 127460 | 4.00 | – | 0.40 |
Rome Res | RMR | 31100 | 0.405 | – | 0.395 |
Celtic Mnrls | CME | 1651000 | 0.77 | – | 0.38 |
Duran Vent | DRV | 273572 | 1.56 | – | 0.36 |
Clifton Star | CFO | 34845 | 1.96 | – | 0.34 |
TSX-V most active issues
VOLUME(000s) | HIGH | LOW | CLOSE | CHANGE | |||
Blue Note Mng | BN | 32350 | 0.46 | 0.38 | 0.405 | – | 0.04 |
Canadn Shield | CSP | 21200 | 0.40 | 0.175 | 0.27 | + | 0.03 |
MacDonald Mns | BMK | 20416 | 0.79 | 0.61 | 0.70 | – | 0.06 |
Peak Gold | PIK | 15013 | 0.63 | 0.57 | 0.59 | – | 0.01 |
Sage Gold | SGX | 14707 | 0.55 | 0.39 | 0.475 | + | 0.05 |
Spider Res | SPQ | 11648 | 0.125 | 0.095 | 0.115 | 0.00 | |
Yukon Zinc | YZC | 9287 | 0.165 | 0.13 | 0.13 | – | 0.025 |
Noront Res | NOT | 9162 | 5.36 | 3.92 | 5.05 | + | 0.65 |
Western Keltic | WKM | 8430 | 0.43 | 0.285 | 0.415 | + | 0.105 |
VMS Vent | VMS | 8408 | 1.10 | 0.85 | 0.87 | – | 0.19 |
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